Jobless Rate 5.5% in October
CBJ — Figures released by Statistics Canada indicate that employment was essentially flat for the month of October with the national unemployment rate holding steady at 5.5%.
The number of people working in Canada edged lower in October as the manufacturing and construction sectors lost jobs, but it was offset by gains in other industries as a means of holding the overall rate the same.
Canada’s economy lost 1,800 jobs last month, following gains of 54,000 jobs in September and 81,000 in August.
The number of full-time jobs fell by 16,100, offset in part by a gain of 14,300 part-time jobs.
Late last month Bank of Canada Governor Stephen Poloz announced the central bank was keeping its overnight trendsetting rate at 1.75% with inflation in and around the ideal 2% level.
Jobless rates by province in October – lowest to highest (numbers from September in brackets)
- British Columbia 4.7% (4.8)
- Quebec 5.0 (4.8)
- Saskatchewan 5.1 (5.3)
- Manitoba 5.3 (5.0)
- Ontario 5.3 (5.3)
- Alberta 6.7 (6.6)
- Nova Scotia 8.0 (7.2)
- New Brunswick 8.1 (8.3)
- Prince Edward Island 8.4 (8.8)
- Newfoundland and Labrador 11.1 (11.5)